Intertain celebrates rises across subsidiaries

Intertain celebrates rises across subsidiaries

Bingo and lottery operator Intertain welcomed growth in each of its four main sectors in a successful third quarter of 2015.

The Canadian firm has been a major purchaser of gaming businesses in the last two years, having bought Gamesys, Mandalay Media, Wagerlogic and Dumarca Holdings for more than CAD$1bn (€690m/$760m) in total. Thanks to acquisitions, group revenue was up more than 700 per cent year-on-year to CAD$119.4m in the three months to September 30.

Jackpotjoy generated revenues of CAD$82.3m, up 21 per cent, while Vera&John saw takings up 21 per cent at CAD$17.6m. Mandalay generated revenues of CAD$10.9m, up 15 per cent, while InterCasino was up nine per cent at CAD$6.2m.

“Q3 was the first full quarter of operations for Intertain with all four of our business segments working together to demonstrate the cash flow power of our combined company.” said John Kennedy FitzGerald, president and chief executive of Intertain.

“We generated CAD$41.5m of cash from operations and used our cash to pay down debt, repurchase our stock at accretive prices and fund the ultimate earn-out on the Jackpotjoy business.

“We continue to see substantial organic growth as we leverage our corporate and operating level management teams’ expertise to optimise the performance of our business.”